CIBC Thinks Enerplus Corp’s Stock is Going to Recover


CIBC analyst Jamie Kubik maintained a Buy rating on Enerplus Corp (ERF) on August 9 and set a price target of $14.50. The company’s shares closed on Friday at $6.43, close to its 52-week low of $5.50.

According to TipRanks.com, Kubik ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -18.5% and a 20.7% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

Enerplus Corp has an analyst consensus of Strong Buy, with a price target consensus of $10.96, which is a 70.5% upside from current levels. In a report issued on August 9, RBC Capital also maintained a Buy rating on the stock.

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The company has a one-year high of $13.13 and a one-year low of $5.50. Currently, Enerplus Corp has an average volume of 942.4K.

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Enerplus Corp. engages in the exploration and production of crude oil and natural gas. Its portfolio includes Willston Basin, Marcellus and Waterfoolds. The company was founded in 1986 and is headquartered in Calgary, Canada.

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